The U.S. Securities and Exchange Commission unveiled a new regulatory framework for crypto assets on Tuesday, marking the first major policy initiative under President Donald Trump’s administration to establish tailored rules for the sector.
The proposal introduces two key exemptions for crypto token issuers. Under the first, companies could raise up to $75 million in any 12-month period while maintaining standard financial reporting obligations. A second exemption would permit a one-time issuance of up to $5 million in tokens over a four-year period, provided issuers disclose required investor information.
SEC Chairman Paul Atkins said the plan aims to provide "clear pathways to raise capital under the federal securities laws" for crypto entrepreneurs and market participants. The framework includes a "safe harbor" provision that could exclude certain crypto assets from being classified as investment contracts if specific conditions are satisfied.
The proposals come as the SEC seeks to balance fostering innovation in digital asset markets with investor protection standards. Issuers utilizing either exemption would still be required to meet ongoing disclosure requirements, though the rules would ease compliance burdens compared with full securities registration.
The public has 60 days to comment on the proposals before the SEC considers final adoption.
